Uber Technologies, Inc. $UBER Shares Purchased by Destiny Wealth Partners LLC

Key Points

• Destiny Wealth Partners LLC increased its stake in Uber Technologies by 7.3%, resulting in ownership of 61,731 shares valued at approximately $5.76 million.
• Uber reported a quarterly revenue of $12.65 billion, which exceeded analysts' expectations and marked an 18.2% increase compared to the same quarter last year.
• Multiple analysts have revised their target prices for Uber, with Bank of America raising theirs from $97.00 to $115.00 and maintaining a "buy" rating.

Destiny Wealth Partners LLC raised its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,731 shares of the ride-sharing company's stock after purchasing an additional 4,182 shares during the quarter. Destiny Wealth Partners LLC's holdings in Uber Technologies were worth $5,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UBER. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies in the first quarter valued at $2,207,743,000. Kingstone Capital Partners Texas LLC grew its holdings in Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock valued at $1,863,545,000 after buying an additional 19,967,705 shares during the period. Pacer Advisors Inc. increased its stake in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company's stock valued at $473,456,000 after acquiring an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares during the period. Finally, Boston Partners grew its holdings in Uber Technologies by 43.8% in the first quarter. Boston Partners now owns 9,031,217 shares of the ride-sharing company's stock valued at $658,686,000 after purchasing an additional 2,749,456 shares during the period. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER opened at $97.60 on Friday. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The firm has a market capitalization of $203.55 billion, a PE ratio of 16.63 and a beta of 1.43. The firm has a 50-day moving average price of $93.13 and a 200 day moving average price of $85.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business's quarterly revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares of the company's stock, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of Uber Technologies stock in a transaction on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the transaction, the senior vice president directly owned 416,222 shares of the company's stock, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 604,571 shares of company stock valued at $58,920,741 in the last quarter. 3.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UBER has been the topic of several research reports. Bank of America increased their target price on Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Royal Bank Of Canada increased their target price on shares of Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price target on shares of Uber Technologies from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $115.00 target price (up previously from $95.00) on shares of Uber Technologies in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.06.

Uber Technologies Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.

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